FY2027 Small Area FMR · Grand Rapids, MI

ZIP 49506 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49506 (Grand Rapids, MI) is $1,790 a month, up 5.3% from FY2026. That is 10% above the Grand Rapids-Wyoming, MI area-wide FMR of $1,630.

2-bedroom SAFMR$1,790per month ▲ 5.3%

Area-wide 2 BR FMR$1,630Grand Rapids-Wyoming, MI

Rank in the area5thof 50 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,611

2 BR Small Area FMR$1,790

110% of SAFMR$1,969

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,430▲ 4.4%

1 BR$1,500▲ 5.6%

2 BR$1,790▲ 5.3%

3 BR$2,320▲ 5.5%

4 BR$2,650▲ 9.1%

FY2027 FY2026

Where 49506 sits in the Grand Rapids-Wyoming, MI area

Of the 50 ZIP codes HUD lists for the area, 49506 has the 5th highest two-bedroom Small Area FMR. Grand Rapids-Wyoming, MI is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,630 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,790 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,430	$1,287 – $1,573	$1,306	$1,370
1 bedroom	$1,500	$1,350 – $1,650	$1,365	$1,420
2 bedrooms	$1,790	$1,611 – $1,969	$1,630	$1,700
3 bedrooms	$2,320	$2,088 – $2,552	$2,113	$2,200
4 bedrooms	$2,650	$2,385 – $2,915	$2,417	$2,430

A household renting a two-bedroom home at the Small Area FMR of $1,790 needs about $71,600 a year to keep housing costs at 30% of income. The area median family income is $106,600 and the 80% low-income limit for four people is $85,300. ZIP code 49506 lies mainly in Kent County. See the Grand Rapids-Wyoming, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
49507	Grand Rapids	2.3 mi	$1,600
49503	Grand Rapids	2.6 mi	$1,760
49505	Grand Rapids	3.7 mi	$1,730
49546	Grand Rapids	4.0 mi	$1,770
49508	Grand Rapids	4.9 mi	$1,640
49509	Wyoming	5.2 mi	$1,380

Questions

What is the Fair Market Rent for ZIP code 49506?

HUD's FY2027 Small Area Fair Market Rents for 49506 are $1,430 (studio), $1,500 (1 BR), $1,790 (2 BR), $2,320 (3 BR) and $2,650 (4 BR) a month.

What is the Section 8 payment standard in 49506?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49506 that range is $1,611 to $1,969 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 49506?

The FY2026 income limits of the Grand Rapids-Wyoming, MI area apply: median family income $106,600, low-income (80%) limit $85,300 for a family of four.